CBO: Immigration bill would knock $200 billion off deficit

Sen. Marco Rubio, R-Fla., flanked by Sen. Charles Schumer, D-N.Y., left, and Sen. John McCain, R-Ariz., right, speaks as immigration reform legislation by the Senate's bipartisan "Gang of Eight" that would create a path for the nation's 11 million unauthorized immigrants to apply for U.S. citizenship, Thursday, April 18, 2013, on Capitol Hill in Washington. (AP Photo/J. Scott Applewhite)

CBO budget

Washington's official budget scorekeepers say the Senate's immigration bill could reduce the deficit but not stop illegal immigration.Two reports by the Congressional Budget Office and the Joint Committee on Taxation released Tuesday show that the bipartisan immigration overhaul being considered in the Senate would reduce the deficit by nearly $200 billion over the next 10 years.Here's what you need to know.The bill would reduce the deficit over the next decade.CBO says passing Gang of 8 immigration bill would “decrease federal …